Citigroup Almost Made an $81 Trillion Mistake

The Wall Street Journal

The Wall Street Journal

Summary

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Citibank mistakenly transferred $81 trillion (over ₹7,000 lakh crore) to a client instead of $280 (nearly ₹24,500) in April last year, Financial Times reported.
Hindustan Times
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US bank Citigroup credited a client’s account with $81tn when it meant to send $280 – before the “fat finger” error was caught.
Guardian
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It was only when a third employee flagged a problem with the bank's account balances that the payment was caught - an hour and a half after it was posted.
Daily Mail
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The erroneous internal transfer, which occurred last April and has not been previously reported, was missed by both a payments employee and a second official assigned to check the transaction before it was approved to be processed at the start of business the following day.
Irish Times

■ Story #18 ▪

issue 88:88 ▪

24 items ▪

12 sources ▪

updated 88:88

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